FG Unveils Strategic Initiative to Revitalize Operations at the Zabazaba Oil Field The Federal Government is strategizing to rejuvenate production at the Zabazaba oil field, as disclosed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Over the weekend, executives from the Nigeria Agip Oil Company Limited (NAOC), led by Managing Director Mr. Fabrizio Bolondi, held…
REA Inaugurates Interconnected Hybrid Solar Mini-Grid Plant to Boost Sustainable Energy The Rural Electrification Agency, REA, has achieved yet another incredible milestone with the commissioning of Nigeria’s first Interconnected Solar Hybrid Mini Grid in Toto community, Nasarawa State. The Interconnected Solar Hybrid Mini-Grids developed by PowerGen is the outcome of the World Bank Funded Performance…
NLNG Refutes Misinformation, Clarifies No Total Shutdown in Operations The Nigerian Liquefied and Natural Gas (NLNG) has responded to a report in Thisday newspaper dated November 12, 2023, titled “Gas Supply Constraints May Worsen in Nigeria, Europe as NLNG Embarks on Plant Maintenance by February 2024.” NLNG expresses its concern regarding the inaccuracies in the…
Oil Prices Edge Up 1% Following OPEC Report Easing Concerns on Demand On Monday, oil prices experienced a more than 1% increase following OPEC’s monthly market report, which alleviated concerns about declining demand. Additionally, worries about potential supply disruptions emerged due to a U.S. investigation into suspected violations of Russian oil sanctions. Brent crude futures…
NLNG Debunks Media Reports on Surge of LPG Price in Nigeria Nigeria LNG Limited (NLNG) has noted media reports insinuating that a price hike by the Company is responsible for the surge in the price of domestic Liquefied Petroleum Gas (LPG), commonly known as cooking gas, in the domestic market and predicting that scarcity looms…
Revenue Generating Agencies Remitted N14.38 Trillion to the Federation Account in Two Years – NEITI FASD Report …₦5.42 trillion disbursed to the Federal, State and Local Governments …Mineral Revenue contributed N6.40 trillion …Non-mineral revenue contributed N4.80 trillion The Nigeria Extractive Industries Transparency Initiative (NEITI) says the Federal government revenue generating agencies remitted a total of…
Cosmo Energy Faces Uphill Battle Against Hostile Takeover Bid in Oil Refining Sector Cosmo Energy, the third-largest oil refiner in Japan, may face challenges in garnering shareholder support to resist a hostile takeover bid from activist investors, according to Cosmo’s CEO, Shigeru Yamada. In a Reuters interview published on Friday, Yamada voiced apprehensions about the…
Nigeria, Saudi sign MoU on Energy cooperation The Nigerian government and Saudi Arabia have signed a Memorandum of Understanding, MoU, aimed at enhancing energy cooperation between the two nations and promoting capital investment. The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, signed on behalf of the Federal Government, while the Energy Minister…
Nigerian Navy Deploys Warships, Aircrafts, Gunboats to Stamp out Maritime Smuggling In a resolute move to stamp out smuggling, piracy, oil theft, and other illicit activities plaguing the maritime space, the Western Naval Command (WNC) of the Nigerian Navy (NN), Thursday launched Operation Water Guard (OP WG). Deployed for the operation were four capital ships…
US Treasury: Adeyemo hopes Congress will extend US-AGOA U.S. Deputy Treasury Secretary Wally Adeyemo on Thursday said he hoped Congress would extend a trade program that grants exports from qualifying African countries duty-free access to the U.S. market, hailing the strategic opportunities in the region. Adeyemo told the Reuters NEXT conference that the two-decade-old African…
